Millennium Management LLC Trims Stock Position in Inseego Corp. (NASDAQ:INSG)

Millennium Management LLC trimmed its holdings in shares of Inseego Corp. (NASDAQ:INSG - Free Report) by 55.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,211 shares of the technology company's stock after selling 40,732 shares during the quarter. Millennium Management LLC owned approximately 0.22% of Inseego worth $330,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its position in Inseego by 2,862.7% during the fourth quarter. Lazard Asset Management LLC now owns 5,244 shares of the technology company's stock valued at $53,000 after purchasing an additional 5,067 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Inseego in the 4th quarter valued at about $1,114,000. Graham Capital Management L.P. bought a new position in shares of Inseego during the 4th quarter worth approximately $137,000. BNP Paribas Financial Markets lifted its position in Inseego by 258.1% during the fourth quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company's stock valued at $51,000 after acquiring an additional 3,549 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in Inseego during the fourth quarter valued at approximately $127,000. Institutional investors own 34.20% of the company's stock.

Inseego Price Performance

NASDAQ:INSG traded up $0.17 during trading hours on Thursday, hitting $7.50. 24,123 shares of the company were exchanged, compared to its average volume of 176,091. Inseego Corp. has a 52-week low of $6.24 and a 52-week high of $20.67. The company's 50 day moving average price is $7.81 and its 200-day moving average price is $9.83. The stock has a market capitalization of $112.56 million, a price-to-earnings ratio of -12.10 and a beta of 1.14.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INSG. Stifel Nicolaus reduced their price target on Inseego from $11.00 to $8.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen downgraded Inseego from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.00.

Inseego Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.